Genesco (NYSE:GCO) Downgraded to Hold Rating by StockNews.com

Genesco (NYSE:GCO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Genesco Trading Up 5.2 %

NYSE GCO traded up $1.71 during trading on Thursday, hitting $34.62. The stock had a trading volume of 205,825 shares, compared to its average volume of 136,463. The company has a market capitalization of $388.44 million, a PE ratio of -494.50 and a beta of 2.41. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $28.57 and a 200 day moving average price of $27.68. Genesco has a twelve month low of $23.21 and a twelve month high of $37.89.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.29. The business had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $512.19 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. As a group, equities research analysts forecast that Genesco will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Several institutional investors have recently added to or reduced their stakes in GCO. Pzena Investment Management LLC lifted its stake in Genesco by 64.1% during the second quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock worth $31,584,000 after purchasing an additional 477,166 shares during the last quarter. Acadian Asset Management LLC increased its position in Genesco by 57.3% during the second quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock worth $7,016,000 after buying an additional 98,901 shares during the period. Martingale Asset Management L P acquired a new position in Genesco during the third quarter worth approximately $842,000. AQR Capital Management LLC increased its position in Genesco by 38.0% during the second quarter. AQR Capital Management LLC now owns 102,986 shares of the company’s stock worth $2,663,000 after buying an additional 28,374 shares during the period. Finally, American Century Companies Inc. increased its position in Genesco by 20.2% during the second quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock worth $4,062,000 after buying an additional 26,436 shares during the period. Hedge funds and other institutional investors own 94.51% of the company’s stock.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.